Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has hinted that some governorship aspirants in Nigeria spent between N20 billion and N30 billion to secure electoral victory, warning that the trend is a serious threat to democratic governance and fuels corruption in public office.
Olukoyede, who spoke in Ilorin yesterday during the inaugural Guest Speakers’ Series organised by the Centre for Peace and Strategic Studies (CPSS) of the University of Ilorin, said that huge financial resources deployed during elections often compel elected officials to divert public funds after assuming office in a bid to recover their investments.
Speaking on the theme, ‘De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria’, the EFCC chief said the huge financial outlay required to win elections often creates pressure on public office holders to divert public funds after assuming office, due to what it requires to win a governorship election.
He said the EFCC remains committed to tackling vote-buying and other forms of financial inducement capable of undermining the integrity of Nigeria’s electoral process.
‘The commercialisation of votes weakens the foundation of good governance because it compromises the political recruitment process’, he noted. ‘Leaders who buy their way into office are more likely to focus on recovering their investments rather than serving the public interest’.
Olukoyede revealed that the anti-graft agency had made several arrests across the country over vote-buying and related electoral offences, with a number of convictions already secured. He listed those prosecuted to include politicians, electoral officials and ordinary citizens found culpable of electoral misconduct.
The EFCC chairman warned that impunity in the electoral process could undermine democracy and national stability, stressing that there must be no sacred cows in the enforcement of electoral laws.
He also disclosed the commission’s plan to deploy drones and other technological tools to strengthen election monitoring ahead of the 2027 general elections, particularly in tracking vote-buying and financial inducements at polling units.
Olukoyede further called on political parties and their supporters to embrace issue-based campaigns and reject inflammatory rhetoric capable of inciting violence, just as he urged stakeholders, including the Independent National Electoral Commission (INEC), security agencies, civil society organisations, the media and political actors to collaborate in ensuring peaceful, free and credible elections.
Earlier, the Vice-Chancellor of the University of Ilorin, Professor Wahab Egbewole (SAN), described electoral corruption as a major threat to national security and democratic development.
Egbewole described credible elections as essential for national stability, economic growth and public confidence in governance, stressing the need for stronger collaboration between academic institutions and agencies responsible for safeguarding electoral integrity.
In his welcome address, the Director of the Centre for Peace and Strategic Studies, Professor Abdul-Jelil Animasawun, said the lecture series was conceived to provide a platform for proactive engagement on threats to Nigeria’s electoral process ahead of the 2027 polls.
He noted that the initiative would bring together policymakers, security experts, electoral officials, civil society groups and scholars to develop practical solutions for peaceful and credible elections.
